A manufactured product has the following Information for August. Direct materials Direct labor Overhead Units manufactured Standard Quantity and Cost 2 pounds per unit @ ss.ee per pound e.5 hour per unit @ $60 per DLH $78 per DLH Actual Results 14,200 units Total manufacturing costs (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for production In August. (3) Compute the total cost variance for August. Complete this question by entering your answers in the tabs below. $ 1,203,400 Required 1 Required 2 Required 3 Prepare the standard cost card showing standard cost per unit. Note: Round your final answers to 2 decimal places. Inputs Direct materials Direct labor Overhead Standard quantity or hours pounds x DLH x DLH x Required 1 Required 2 Required 3 Standard price or rate Standard cost per unit Compute total budgeted cost for production in August. Total budgeted cost Required 1 Required 2 Required 3 < Required 1 Required 3 > Compute the total cost variance for August. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Total cost variance < Required 2 Required 3 >

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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A manufactured product has the following Information for August.
Direct materials
Direct
labor
Overhead
Standard Quantity and Cost
2 pounds per unit @ ss.ee per pound
e.5 hour per unit @ $60 per DLH
$78 per DLH
Units manufactured
Total manufacturing costs
(1) Prepare the standard cost card showing standard cost per unit.
(2) Compute total budgeted cost for production In August.
(3) Compute the total cost variance for August.
Complete this question by entering your answers in the tabs below.
Required 1 Required 2
Required 3
Prepare the standard cost card showing standard cost per unit.
Note: Round your final answers to 2 decimal places.
Inputs
Direct materials
Direct labor
Overhead
Standard quantity or hours
pounds
x
DLH
x
DLH
x
Required 1
Required 2
Required 3
Standard price or
rate
Standard
cost per unit
<Required 1
Required 2 >
Compute total budgeted cost for production in August.
Total budgeted cost
Required 1
Required 2
Required 3
< Required 1
Required 3 >
Actual Results
14,200 units
$ 1,203,400
Compute the total cost variance for August.
Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance.
Total cost variance
< Required 2
Required 3 >
Transcribed Image Text:A manufactured product has the following Information for August. Direct materials Direct labor Overhead Standard Quantity and Cost 2 pounds per unit @ ss.ee per pound e.5 hour per unit @ $60 per DLH $78 per DLH Units manufactured Total manufacturing costs (1) Prepare the standard cost card showing standard cost per unit. (2) Compute total budgeted cost for production In August. (3) Compute the total cost variance for August. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare the standard cost card showing standard cost per unit. Note: Round your final answers to 2 decimal places. Inputs Direct materials Direct labor Overhead Standard quantity or hours pounds x DLH x DLH x Required 1 Required 2 Required 3 Standard price or rate Standard cost per unit <Required 1 Required 2 > Compute total budgeted cost for production in August. Total budgeted cost Required 1 Required 2 Required 3 < Required 1 Required 3 > Actual Results 14,200 units $ 1,203,400 Compute the total cost variance for August. Note: Indicate the effect of the variance by selecting favorable, unfavorable, or no variance. Total cost variance < Required 2 Required 3 >
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